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For example?

I can't speak for him, but the way I read it is this: Many pro/prop traders had strategies that used limit orders to manually capture the spread, rebates, etc. They had the tech and DMA that regular retail traders didn't. Those edges were automated away by HFTs(some by same pro/prop shops)...

Well if he told them to F*k off, he would be my hero :) CBOE can cancel orders themselves (no questions asked), so I'm pretty sure it's between IB and some other firm. Did they tell you when you can re-submit them? These are GTC?

Looks like Market Profile (Auction theory) is very popular in Futures.

@Polygon.io , any plans to offer this feed?

Data from Cboe owned equities exchanges only

K, thanks.

@Baron, where is @Robert Morse? I haven't seen him answer anything for some time now.

Agreed, and a good example of what an edge is - not exactly arb, but as close as retail traders may get to it. Hope @MrMuppet doesn't take it all away :)

I liked his post as far as looking for opportunities, but find below a bit off-putting. Sounds like a call for suckers to provide liquidity on a new exchange. No mention if he has any association with the exchange. So that puts the whole edge give away in question for me. You don't agree? l...

Wanted to add my $0.02 regarding Sim. It's very difficult to simulate fills on illiquid instruments. Assuming that you will be filled at NBBO for more size than displayed may not be realistic. There was a guy here who described paper trading his options system and he actually looked at TnS to...

Can you tell if there was open interest for that particular option?

Well that's the intention!

I believe brokers must send all Futures orders to the exchange and there are no rebates for Futures ... so no! I can't believe US customers are not allowed to trade CFDs, yet it's allowed for their orders to be sent to HFTs which can act as CFDs if they choose. I don't think we've heart the...

That doesn't sound right. Maybe 20 cents per 1000 shares? Unless RH is subsidizing it.

No, I am a developer in the industry.

Iceberg orders used to be pretty straight forward. But times have changed and I don't think the new and improved algos are as easy to track. https://library.tradingtechnologies.com/trade/tto-iceberg-order.html

How can DMA broker, which implies that they mostly don't ingage in PFOF, can complete with zero commission? Only on execution quality (latency, reliability, venues, order types). That is a niche business that is more expensive than sending orders to HFT. So they will either go out of business...

Who is left in US for Equities and Options? Next step negative commissions (rebates) for high volume traders even for taking liquidity(PFOF kickback sharing)? This can't be good for independent active traders who need DMA and execution quality. Not healthy for the industry, imho.

I hope ToS and others doesn't start charging for the platforms and data.